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on Accounting and Auditing |
| By: | Sandrine Boulerne; Jean-Michel Sahut |
| Abstract: | Have IFRS improved the information content of intangible? The case of French companies listedIAS/IFRS are presumed to provide more uniform and relevant information which reflect the financial position and the assets of firm. In this article, we are studying the information content of intangible assets according to IAS/IFRS compared to the French GAAP for French listed firms (SBF 250 index). We show that, on one hand that the transition to IAS/IFRS did not change the overall amount of intangible assets, even though it operated substitution effects in favour of goodwill, on the other hand the greater accounting relevance of total intangible assets and goodwill when they are valued according to IAS/IFRS. With these standards, financial markets better integrate such contributions in stock market price and returns, especially for firms with a high density of intangible assets. |
| Date: | 2014–04–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-262&r=acc |
| By: | Sen, Neelanjan; Biswas, Rajit |
| Abstract: | This paper considers the relative efficiency of unit tax and ad valorem tax in Cournot doupoly in the presence of licensing opportunities after the announcement of the tax rates by the government. Anderson et al. (2001) shows that in such a case ad valorem tax welfare dominates the unit tax. However, it ignores the licensing possibilities. Interestingly, it is shown in the present paper that in case of fixed-fee licensing unit tax sometimes dominates ad valorem tax. However, unit tax and ad valorem tax are equally efficient in case of royalty licensing. |
| Keywords: | Unit tax, Ad valorem tax, Cournot Competition, Licensing |
| JEL: | D43 L13 L24 |
| Date: | 2014–04–21 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:55437&r=acc |
| By: | Erik Floor; Arjan Lejour |
| Abstract: | We estimate the impact of the marginal tax rate on the ownership in risk-bearing assets and on the share in total assets. In contrast to the literature, we use instrumental variables to correct for endogeneity of the marginal tax rate on capital income. Moreover, we use the exogenous variation in marginal tax rates from the Dutch tax reform of 2001. We find that a change in the difference in the marginal tax rate between risky assets and riskless assets has a significant positive impact on the ownership of risky assets and growth funds. A ten percentage point increase of the marginal rate results in a 0.5 percentage point increase of the probability of owning risky assets. The tax rate has no impact on the share of risky assets if we correct for endogeneity and selection. |
| JEL: | G11 H24 H31 |
| Date: | 2014–04 |
| URL: | http://d.repec.org/n?u=RePEc:cpb:discus:273&r=acc |
| By: | Philip Hemmings |
| Abstract: | Ensuring tax and transfer systems bring sufficient revenue to reach macroeconomic fiscal targets, address societal goals in re-distribution and social welfare, recognise the influence taxation has on businesses’ competitiveness and adequately address environmental externalities is a tough challenge, arguably more so in Israel than in many other OECD countries. High interest payments and large defence spending make deficit and debt reduction more difficult, socio-economic divides remain wide and as a small-open economy Israel is highly exposed to mobile international capital and competition over international investment. And, as elsewhere, the incorporation of environmental issues into the tax system remains only partial. This review examines ways forward for policy on several fronts: indirect taxation; household income tax and social benefits; taxes on property and wealth; business taxation; and evasion, avoidance and administration issues. This Working Paper relates to the 2013 OECD Economic Review of Israel (www.oecd.org/eco/surveys/economic-survey-israel.htm). Comment améliorer le système de prélèvements et de prestations en Israël Les autorités doivent veiller à ce que le système de prélèvements et de prestations permette de dégager des recettes suffisantes pour réaliser les objectifs budgétaires retenus à l’échelle macroéconomique, d’atteindre les objectifs sociétaux visés en termes de redistribution et de protection sociale, de prendre en compte l’influence exercée par la fiscalité sur la compétitivité des entreprises, et de gérer de manière adéquate les externalités environnementales. L’ampleur de la tâche est redoutable, et elle l’est sans doute encore plus en Israël que dans de nombreux autres pays de l’OCDE. La lourdeur des charges d’intérêts et le volume des dépenses de défense rendent la réduction du déficit et de la dette plus difficile, les fractures socioéconomiques restent larges et, en tant que petite économie ouverte, Israël est fortement exposée aux effets de la mobilité des capitaux internationaux et à la concurrence que se livrent les pays pour attirer les investissements internationaux. En outre, comme ailleurs, l’intégration des questions environnementales dans le système d’imposition reste partielle. Nous examinons dans cette Étude les possibilités d’améliorer le cadre d’action publique sur plusieurs fronts : les impôts indirects, la fiscalité des revenus des ménages et le système de prestations sociales, les impôts sur la propriété immobilière et les autres formes de patrimoine, la fiscalité des entreprises, les problèmes de fraude et d’évasion fiscales, ainsi que les questions d’administration de l’impôt. Ce Document de travail se rapporte à l’Étude économique de l’OCDE d’Israël 2013 (www.oecd.org/fr/eco/etudes/israel-2013. htm). |
| Keywords: | taxes, transfers, subsidies, tax administration, pensions, welfare, Israel, environmental taxation, company tax, tax evasion, tax avoidance, taxe, subventions, Israël, bien-être, évasion fiscale, fraude fiscale, fiscalité environnementale, administration fiscale, transferts, fiscalité des entreprises, pensions |
| JEL: | H23 H24 H25 H26 H53 I38 |
| Date: | 2014–04–23 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:1113-en&r=acc |
| By: | Angjellari-Dajci, Fiorentina; Cebula, Richard |
| Abstract: | This empirical investigation applies a hedonic pricing model to determine whether property taxes have been capitalized into housing prices of single-family homes in city of St. Augustine, Florida housing market for single family homes. There were sufficient data in this context to study a total of 4,017 single-family houses for the six-year period from 2008 to 2013 period. The sales price and property tax levels are expressed real terms, i.e., in 2005 dollars. The semi-log estimation reveals, among other things, that the natural log of the real sales price of a single-family house in the St. Augustine area was in fact negatively affected by the city and county property tax level. |
| Keywords: | housing prices; property tax capitalization; market mechanism |
| JEL: | H24 H71 R21 R32 R38 |
| Date: | 2014–01–26 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:55587&r=acc |
| By: | Benno Torgler |
| Abstract: | Historically, tax compliance has been a highly interdisciplinary avenue of research to which economics, psychology, law, sociology, history, political science, and accountancy have made valuable contributions. It is less well understood, however, whether we can glean useful insights into tax compliance by moving beyond the social sciences. In particular, the literature pays little attention to the relevance of biology. This paper attempts to remedy this shortcoming by examining the potential opportunities and limitations of introducing biological concepts into tax compliance research. |
| Keywords: | tax compliance; tax morale; tax evasion; biology; genetics |
| JEL: | H26 B40 B52 C63 D03 Z19 |
| Date: | 2014–03 |
| URL: | http://d.repec.org/n?u=RePEc:cra:wpaper:2014-08&r=acc |
| By: | Vincenzo Visco |
| Date: | 2014–03 |
| URL: | http://d.repec.org/n?u=RePEc:gfe:pfrp00:0001&r=acc |
| By: | Karen E. Smith; Eric Toder |
| Abstract: | The inclusion of employer-sponsored health insurance (ESI) in taxable income would increase income and payroll tax receipts, but would also increase Old Age, Survivors, and Disability Insurance (OASDI) benefits by adding ESI to the OASDI earnings base. This study uses the Urban Institute’s DYNASIM model to estimate the effects of including ESI premiums in taxable earnings on the level and distribution by age and income groups of income tax burdens, payroll tax burdens, and OASDI benefits. We find that the increased present value of OASDI benefits from including ESI in the wage base in 2014 offsets about 22 percent of increased income and payroll taxes, 57 percent of increased payroll taxes, and 72 percent of increased OASDI taxes. The overall distributions of taxes and benefits by income group follow the same pattern, with both taxes and benefits increasing as a share of income between the bottom and middle quintiles and then declining as a share of income for higher income taxpayers. But households in the bottom income quintiles receive a net benefit from including ESI in the tax base because their increase in OASDI benefits exceeds their increase in income and payroll taxes. Over a lifetime perspective, all earnings groups experience net tax increases, but workers in the middle of the earnings distribution experience the largest net tax increases as a share of lifetime earnings. Higher benefits offset a larger share of tax increases for lower than for higher income groups. |
| Date: | 2014–04 |
| URL: | http://d.repec.org/n?u=RePEc:crr:crrwps:wp2014-3&r=acc |